A deal to develop a 200 MW commercial tidal power project at a cost of some $500 million has been signed by financiers World Energy Research and technology developers Blue Energy Canada. The project will see the development of what Blue Energy Canada says is its first commercial tidal power project and will use its Davis Hydro Turbine, a development of the Darrieus Windmill from the early 20th century, as the core technology.

Commenting on the deal Chad Willis, Managing Director of World Energy Research said; "After exhaustive research, World Energy Research found several companies capable of producing small amounts of energy, but none on the scale of Blue Energy's Davis Tidal Turbine, which was developed specifically to harness tidal power on a large scale."

"The Blue Energy vertical-axis turbine represents two decades of Canadian research and development, which generates an inexpensive, non-exhaustible source of environmentally-safe electricity to power the world's energy needs," says Blue Energy Canada's CEO, Martin J. Burger.